CPH2 to float on AIM

Manufacturer of membrane-free electrolysers hopes to raise £50mn by listing shares on stock exchange

UK-based electrolyser manufacturer CPH2 has announced its intention to float on AIM—a specialised unit of the London Stock Exchange catering to smaller companies. Unlike most electrolysers, which use membranes to separate hydrogen and oxygen, CPH2 manufactures a membrane-free electrolyser (MFE), which instead divides the water splitting process into two phases. Membrane failure is often the cause for malfunctions in alkaline and proton-exchange-membrane electrolysers, meaning MFE technology can improve system reliability, according to its advocates. MFEs also do not use platinum group metals in their production, sheltering manufacturers from any supply crunches in the markets for those mater